Exhibit 12.1
TETRA Technologies, Inc.
Ratio of Earnings to Fixed Charges
| Fiscal Year Ended December 31, | ||||||||||||||||||||
| 2011 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Pretax income (loss) from continuing operations | $ | 6,233 | $ | 28,183 | $ | (128 | ) | $ | (157,871 | ) | $ | (201,763 | ) | |||||||
Plus: Fixed Charges | 19,431 | 20,399 | 20,282 | 37,564 | 56,698 | |||||||||||||||
Plus: Amortization of capitalized interest | 1,164 | 1,117 | 1,331 | 1,446 | 1,511 | |||||||||||||||
Less: Interest capitalized | (1,151 | ) | (1,875 | ) | (1,614 | ) | (845 | ) | (387 | ) | ||||||||||
Less: Preference dividend requirements | — | — | — | — | — | |||||||||||||||
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| $ | 25,677 | $ | 47,824 | $ | 19,871 | $ | (119,706 | ) | (143,941 | ) | ||||||||||
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Fixed Charges | ||||||||||||||||||||
Interest expense on indebtedness | $ | 17,252 | $ | 17,373 | $ | 17,393 | $ | 32,745 | 51,202 | |||||||||||
Interest capitalized | 1,151 | 1,875 | 1,614 | 845 | 387 | |||||||||||||||
Amortization of deferred financing costs | 809 | 837 | 861 | 2,968 | 3,961 | |||||||||||||||
Interest expense on portion of rent | 219 | 314 | 414 | 1,006 | 1,148 | |||||||||||||||
Preference dividend requirements | — | — | — | — | — | |||||||||||||||
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Total fixed charges | $ | 19,431 | $ | 20,399 | $ | 20,282 | $ | 37,564 | $ | 56,698 | ||||||||||
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Ratio of earnings to fixed charges | 1.32 | x | 2.34 | x | (a | ) | (a | ) | (a | ) | ||||||||||
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| (a) | Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $0.4 million, $157.3 million, and $200.6 million for the years ended December 31, 2013, 2014 and 2015, respectively. |
